Effective January 1, 2023 PCGS announces Collector Services & Fees

Goldbully

Just a quick look, and I see Express was $65 now $70, Regular was $38 now $40, and Variety attribution was $18 now $20.

What did I miss?

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https://www.pcgs.com/servicesandfees

P0CKETCHANGE

Economy up $1
Reholder up $1/$7

jt88

This is kind of expected because inflation is everywhere. Coin price will follow too

jt88

I think the next is auction house increase the fee from 20% to 23% or even 25% soon

pruebas

Shipping will likely go up as well, but they do not state the shipping prices.

Didn't regular used to be $40 a few years ago and it was then lowered to $38?

Goldbully

@jt88 said:
I think the next is auction house increase the fee from 20% to 23% or even 25% soon

20% is high IMO.

WCC

@jt88 said:
This is kind of expected because inflation is everywhere. Coin price will follow too

Not necessarily the coins most collectors or submitters own.

davewesen

economy is +1
varieties +2
now an economy error for $35

1madman

Show gold +5

Connecticoin

Yet the $300 limit for economy is the same as when I started submitting in 2004. The limits should go up in proportion to the fee increases - economy limit should be around $500 now.

erscolo

Small wonder I have never submitted a coin or anything else to a grading service.

jmlanzaf

@erscolo said:
Small wonder I have never submitted a coin or anything else to a grading service.

I think you're on the wrong forum.

winesteven

@jt88 said:
I think the next is auction house increase the fee from 20% to 23% or even 25% soon

IF it happens, it doesn’t hurt the bidders, as many will/should adjust their hammer bid, but will negatively impact the consignors!

Steve

TurtleCat

I think the most negatively impacted areas will be bullion and low value submissions. Perhaps that is for the best?

winesteven

Another increase shown is the $2 Handling fee per order for having PCGS return coins using my FedEx Priority Overnight account will now be $4 (a 100% increase, lol).

Steve

jmlanzaf

@winesteven said:

@jt88 said:
I think the next is auction house increase the fee from 20% to 23% or even 25% soon

IF it happens, it doesn’t hurt the bidders, as many will/should adjust their hammer bid, but will negatively impact the consignors!

Steve

It sort of depends on where they allocate the increase. They could decrease the premiums for sellers with the money. I mean, would you rather consign where there is a 20% BP and a 0% SP or where there is a 25% BP but you get 105% of hammer?

ricko

Prices increasing everywhere... A dozen eggs now about four times the price it was a couple years ago. Cheers, RickO

winesteven

@jmlanzaf said:

@winesteven said:

@jt88 said:
I think the next is auction house increase the fee from 20% to 23% or even 25% soon

IF it happens, it doesn’t hurt the bidders, as many will/should adjust their hammer bid, but will negatively impact the consignors!

Steve

It sort of depends on where they allocate the increase. They could decrease the premiums for sellers with the money. I mean, would you rather consign where there is a 20% BP and a 0% SP or where there is a 25% BP but you get 105% of hammer?

But those same negotiations take place today, with the consignor usually getting more than 100% of the hammer. However, I admit that if they raise the bp, it could be EASIER for consignors to negotiate a larger increase over the hammer than they can get now.

oih82w8

Just about everything continues to go up in price... except our wages. 😔

JimTyler

Collector club voucher limit $2500 ? Are they saying you can only use your freebies for joining on coins under $2500 ?

jmlanzaf

@winesteven said:

@jmlanzaf said:

@winesteven said:

@jt88 said:
I think the next is auction house increase the fee from 20% to 23% or even 25% soon

IF it happens, it doesn’t hurt the bidders, as many will/should adjust their hammer bid, but will negatively impact the consignors!

Steve

It sort of depends on where they allocate the increase. They could decrease the premiums for sellers with the money. I mean, would you rather consign where there is a 20% BP and a 0% SP or where there is a 25% BP but you get 105% of hammer?

But those same negotiations take place today, with the consignor usually getting more than 100% of the hammer. However, I admit that if they raise the bp, it could be EASIER for consignors to negotiate a larger increase over the hammer than they can get now.

I know. But the argument for the BP increases last time was for that very reason. So, it's not clear how the calculation changes for consignors. Of course it's not good for widget consignors, but I don't think any auction house is terribly efficient for moving widgets (including GC).

winesteven

@JimTyler said:
Collector club voucher limit $2500 ? Are they saying you can only use your freebies for joining on coins under $2500 ?

Yes, but it's been like this for awhile. This is not a current change.

Steve

JimTyler

@winesteven said:

@JimTyler said:
Collector club voucher limit $2500 ? Are they saying you can only use your freebies for joining on coins under $2500 ?

Yes, but it's been like this for awhile. This is not a current change.

Steve

Been a long time since I submitted coins.

291fifth

@oih82w8 said:
Just about everything continues to go up in price... except our wages. 😔

And this is going to cause a lot of problems in the near future when the average workers find themselves getting a 3% wage increase while the top executives get huge increases that far outpace inflation. Anger is building.

winesteven

@291fifth said:

@oih82w8 said:
Just about everything continues to go up in price... except our wages. 😔

And this is going to cause a lot of problems in the near future when the average workers find themselves getting a 3% wage increase while the top executives get huge increases that far outpace inflation. Anger is building.

OR, when the rank and file AND the top executives get similar moderate wage increases (as some responsible firms do), and they'll all be upset, like NOW, that prices are a lot higher than they were just two years ago!

The main issue is not disparity, but significant inflation that has been well under control for many decades, until two years ago.

mark_dak

@jmlanzaf said:

@erscolo said:
Small wonder I have never submitted a coin or anything else to a grading service.

I think you're on the wrong forum.

I'm not sure the poster clarified he or she has never owned a slabbed coin, just that they have never submitted. I have only sent a hand full in via my LCS. It is quite a confusing, expensive and long process for many average coin collectors to perform on their own.

Mark

jmlanzaf

@mark_dak said:

@jmlanzaf said:

@erscolo said:
Small wonder I have never submitted a coin or anything else to a grading service.

I think you're on the wrong forum.

I'm not sure the poster clarified he or she has never owned a slabbed coin, just that they have never submitted. I have only sent a hand full in via my LCS. It is quite a confusing, expensive and long process for many average coin collectors to perform on their own.

Mark

I know. But it seems a little odd to be on the PCGS forum criticizing all TPGs for their business model.

Walkerguy21D

The increases are pretty nominal, IMO. And on the bright side, maybe they will increase staffing and reduce the turnaround time.

RLSnapper

I guess all the paper submission forms are no good...I don't have a printer. I guess I could always just manually cross out the lower price and enter the increased price. I have 4 vouchers to burn so it really doesn't matter. I just went through my paper form to edit one...the return shipping fees have gone up $5 across the board as well.I will be down grading my Gold Membership to a Regular Membership on my next renewal to even out the costs. I really don't have any coins waiting to be graded and if I should get 1 or 2 it will make up the extra costs with the Membership savings.

Walkerguy21D

** I guess all the paper submission forms are no good...I don't have a printer. I guess I could always just manually cross out the lower price and enter the increased price**

Not sure when the new rates went into play, but I used the 2022 forms and rates at FUN on Jan 6 and the staff accepted them with no qualms or corrections.

1madman

@RLSnapper said:
I guess all the paper submission forms are no good...I don't have a printer. I guess I could always just manually cross out the lower price and enter the increased price. I have 4 vouchers to burn so it really doesn't matter. I just went through my paper form to edit one...the return shipping fees have gone up $5 across the board as well.I will be down grading my Gold Membership to a Regular Membership on my next renewal to even out the costs. I really don't have any coins waiting to be graded and if I should get 1 or 2 it will make up the extra costs with the Membership savings.

Old forms are fine. The accounting staff will charge you accordingly for your submission no matter what the form price says.

Herb_T

If they would meet the advertised lead time I wouldn’t bitch….but they don’t and that is just BS!

DollarAfterDollar

None of it is warranted when the turn around time on your "service" is so lengthy.

krueger

what is guarantee resubmission ? is that the regrade service?

lilolme

@krueger said:
what is guarantee resubmission ? is that the regrade service?

.
https://www.pcgs.com/guarantee
.
And from the submission form pdf
.
• GUARANTEE RESUBMISSION: If you have a PCGS-graded coin that you feel is overgraded, misattributed, or counterfeit, submit the coin to PCGS through the Guarantee Resubmission Service. A fee of $25 per coin must accompany all submissions through this service (Standard or Gold Shield). If your coin is downgraded, the terms of the PCGS Guarantee will apply and all fees and charges related to the Guarantee Resubmission will berefunded.Additionalguaranteetermsandconditionsapply.PleasevisitPCGS.com/guaranteeformore information.

MS66

The top TPGs have done a masterful job of providing a useful service and positioning themselves in the marketplace. The obvious next step is to raise rates.

They are inundated with submissions--witness the relentless complaining about turnaround times. Note I'm not saying the complaints aren't justified!

But given these conditions it's natural to increase the fees, even if such increases weren't otherwise justified. Note I'm not saying they aren't!

Certification results in greatly increased demand for the underlying product. So in that sense alone they really are adding value.

jmlanzaf

@MS66 said:
The top TPGs have done a masterful job of providing a useful service and positioning themselves in the marketplace. The obvious next step is to raise rates.

They are inundated with submissions--witness the relentless complaining about turnaround times. Note I'm not saying the complaints aren't justified!

But given these conditions it's natural to increase the fees, even if such increases weren't otherwise justified. Note I'm not saying they aren't!

Certification results in greatly increased demand for the underlying product. So in that sense alone they really are adding value.

I love the services. However, increased demand may increase value, but that value increase needs to match the cost. There are very few $100 coins that will increase 40% in value just by being slabbed.

DisneyFan

@Walkerguy21D said:
** I guess all the paper submission forms are no good...I don't have a printer. I guess I could always just manually cross out the lower price and enter the increased price**

Sorry to ask - does PCGS have on-line forms?

DisneyFan

@291fifth said:

And this is going to cause a lot of problems in the near future when the average workers find themselves getting a 3% wage increase while the top executives get huge increases that far outpace inflation. Anger is building.

Sad; but, a lot of that excess compensation is from stock options.

Walkerguy21D

@DisneyFan said:

@Walkerguy21D said:
** I guess all the paper submission forms are no good...I don't have a printer. I guess I could always just manually cross out the lower price and enter the increased price**

Sorry to ask - does PCGS have on-line forms?

They may very well, but as a member they send me a stack every year, along with the required flips to use.
The official forms have the original cover form plus three copies in different colors. How they replicate that system online I don’t know.

Goldbully

@DisneyFan said:

Sorry to ask - does PCGS have on-line forms?

>
Yes.

https://www.pcgs.com/onlinesubmission

logger7

I'd have to think that the value of a submission would have to be pretty high to warrant a submission. For a "regular" submission what is the minimum the coin should be worth to warrant that? Also would you send in an economy coin if it were worth under $100?

Jimnight

There is only one reason everything is going up!

DisneyFan

@Goldbully said:

@DisneyFan said:

Sorry to ask - does PCGS have on-line forms?

>
Yes.

https://www.pcgs.com/onlinesubmission

Thank you - good to know.

It will be nice when they expand it to include more of the categories as they state:

Important Note

The service levels listed below require a PDF Submission Form and are not currently available on the online submission center.

Bulk
Quarterly Special
Mint Error
Show Services
Guarantee Resubmission
Mechanical Error
Reconsideration
World Reholder
Banknotes

LanceNewmanOCC

to confirm, Errors only need be submitted under that tier, not error AND grading, correct?

the $70 kinda seems like a grading+attribution fee kidna thing.

Walkerguy21D

@logger7 said:
I'd have to think that the value of a submission would have to be pretty high to warrant a submission. For a "regular" submission what is the minimum the coin should be worth to warrant that? Also would you send in an economy coin if it were worth under $100?

You’d think so, but look at all the trinkets that you see in TPG holders. The lowest value for even an economy submission I’ve done was still over $200.
But of course one man’s trinket is another man’s treasure…..and perhaps they had higher but unrealistic aspirations too.

GoBust

Overall reasonable given the economy and circumstances with inflation. I wonder if they might add a category of lower value coins with guarenteed 60 or 90 day grading?

HillbillyCollector

@winesteven said:

@jmlanzaf said:

@winesteven said:

@jt88 said:
I think the next is auction house increase the fee from 20% to 23% or even 25% soon

IF it happens, it doesn’t hurt the bidders, as many will/should adjust their hammer bid, but will negatively impact the consignors!

Steve

It sort of depends on where they allocate the increase. They could decrease the premiums for sellers with the money. I mean, would you rather consign where there is a 20% BP and a 0% SP or where there is a 25% BP but you get 105% of hammer?

But those same negotiations take place today, with the consignor usually getting more than 100% of the hammer. However, I admit that if they raise the bp, it could be EASIER for consignors to negotiate a larger increase over the hammer than they can get now.

Relating to this, I have only sold coins through Stacks whereas I received a percentage of the SP. How are the other auction houses to work with on this issue and who do you think is the easiest to ‘wheel and deal’?
HB

jmlanzaf

@HillbillyCollector said:

@winesteven said:

@jmlanzaf said:

@winesteven said:

@jt88 said:
I think the next is auction house increase the fee from 20% to 23% or even 25% soon

IF it happens, it doesn’t hurt the bidders, as many will/should adjust their hammer bid, but will negatively impact the consignors!

Steve

It sort of depends on where they allocate the increase. They could decrease the premiums for sellers with the money. I mean, would you rather consign where there is a 20% BP and a 0% SP or where there is a 25% BP but you get 105% of hammer?

But those same negotiations take place today, with the consignor usually getting more than 100% of the hammer. However, I admit that if they raise the bp, it could be EASIER for consignors to negotiate a larger increase over the hammer than they can get now.

Relating to this, I have only sold coins through Stacks whereas I received a percentage of the SP. How are the other auction houses to work with on this issue and who do you think is the easiest to ‘wheel and deal’?
HB

Depends on what you have. Ifv you have quality, any of them will negotiate.

MrEureka

@Connecticoin said:
Yet the $300 limit for economy is the same as when I started submitting in 2004. The limits should go up in proportion to the fee increases - economy limit should be around $500 now.

It's called bracket creep. Worked well for the IRS for a long, long time. Not so much for taxpayers.